The properties of two Gujarat-based businessmen worth Rs. 4,703 crore have been seized by the Enforcement Directorate after the two men allegedly defrauded half a dozen banks of Rs. 5,700 crore. Chetan Sandesara and his brother Nitin, directors of Vadodara-based Sterling Biotech, who have been named as the main accused, left the country long before investigators came to know of the alleged fraud and opened a case against the firm, the ED has said.
